Why are other cryptocurrencies not like Bitcoin? - page 4.

TimeTeller

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Quote from: Woodie on May 22, 2021, 12:20:26 PM

Altcoins are not like bitcoin because they lack the numbers to grow their value, and btw bitcoin has the biggest community which also gives bitcoin its value,if altcoins are to be like bitcoin they need to have something extraordinary that can impact crypto users and win support from everywhere else to grow their community to support the coin.

And sadly, hundreds of alts are created just for the sake of the dev's pockets.
So you can't really expect them to survive longer, because the team will dump their holdings once they see good opportunity.
Only those with real use case in the market can survive. But if it will end up only in trading without other applications, then, it can easily die.
Bitcoin has already established its position and use case in the market. Because of its position, it is the first choice of most merchants to be in their system.
Even investors will look at btc first before checking the others. This is why financial institutions are after for btc, and all the others are just secondary.

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Quote from: Masplanc on May 21, 2021, 12:28:06 PM

Over the years Bitcoin have been doing very great and as a matter of fact it is the fastest cryptocurrency that is much valuable and growing with rapid speed. Unlike other cryptocurrencies, some come doing better at the earlier stage but as time goes on they loss value and at the end of the day it gets crash .
my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you

It doesn't mean that others altcoins aren't good. New projects and fake volume. Why do investors give a huge amount of money on those projects? Big investment won't be so easy within a short time. You know someone brought pizza with a huge BTC. Bitcoin wasn't a valuable coin as now. We will invest big investment in trust altcoins, which has had a good volume since launched.

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Quote from: Upgrade00 on May 21, 2021, 02:33:30 PM

Quote from: Masplanc on May 21, 2021, 12:28:06 PM

why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.

Bitcoin has qualities which makes it valuable and resistant over all these years despite the predictions that it will crash, no other cryptocurrency has the exact same qualities or level of decentralization which Bitcoin has.

Decentralization makes bitcoin to be completely different from altcoins. Also the volatility of altcoins during bear market is more than that of bitcoin, when bitcoin has not even dropped 2x in this recent bear market, I can see altcoins that have dropped more than that extent. Even ethereum which is the strongest among altcoins even almost dropped half of its all-time-high price which it achieved recently.

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Altcoins are not like bitcoin because they lack the numbers to grow their value, and btw bitcoin has the biggest community which also gives bitcoin its value,if altcoins are to be like bitcoin they need to have something extraordinary that can impact crypto users and win support from everywhere else to grow their community to support the coin.

Digital_Lord

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Altcoins are not like bitcoins because Bitcoin is fully Decentralized and Used as many payment sources. But I think there are many altcoins that are now companion of Bitcoin everywhere like Eth.

pelumi20

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You are getting it wrong. You are mistaking popularity with success. There are a lot of coins that are better than bitcoin and offer better features than those of bitcoin, but they are not as popular as bitcoin. Because bitcoin is the first ever cryptocurrency, it is more popular than the rest of crypto coins.

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Quote from: mobtc on May 22, 2021, 07:32:14 AM

As long as there is a consensus on anything, it will definitely excel.BTC is the first virtual currency known to everyone in the world.
Now more and more altcoins are coming out, but Bitcoin's position will always remain the number one.

Most of the newborn altcoins on the market were the result of developing or duplicating projects with the same concept. not many can compete with nearly the same altcoins, let alone BTC.
like coins from exchanges, they have the same project concept even with the same development. they compete with each other on their own development. but no one will wait simultaneously.
BTC is still the best, and the new altcoins don't have a good innovation to start within the crypto and blockchain markets.

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As long as there is a consensus on anything, it will definitely excel.BTC is the first virtual currency known to everyone in the world.
Now more and more altcoins are coming out, but Bitcoin's position will always remain the number one.

apa don

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Quote from: bitcoin_bob on May 22, 2021, 12:44:58 AM

Crypto coin maximalists is the form of nationalism for nerds

It seems that the words you say are very profound,
so can you express the meaning of your words so that I can understand them more so that I don't get confused here?

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Crypto coin maximalists is the form of nationalism for nerds

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In my opinion because Bitcoin is the first blockchain technolgy that created on 2009. After that there are other developer to copyed this technology. Since Bitcoin created until now the market cap and the price already going up to 10,000x because the investor not only from retail but also from institutional. If we look in to all other altcoin, actually there are some coins that reached 10,000x ROI from the bottom like XVG. From altcoin hard to make profit like Bitcoin did, because there are alot of competitor of altcoin and many of them has the same product and created of premine coin for reward of their developer.

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Quote from: Masplanc on May 21, 2021, 12:28:06 PM

my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you

A very good question, you need to know that every cryptocurrency has a different team and concept when creating cryptocurrency, so that there are many variations that are seen in the crypto space, and those that are able to compete will always survive, just like a company in real life, if a company that is unable to compete, he will not progress and will end up dying.

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Most altcoins are just created to make their founders rich. That is their primary reason. Eventually when they stop pumping they are no longer interesting and the developers abondon them. If they gain enough support early on then there is a chance they survive and evolve into something somewhat useful.

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Quote from: Masplanc on May 21, 2021, 12:28:06 PM

Over the years Bitcoin have been doing very great and as a matter of fact it is the fastest cryptocurrency that is much valuable and growing with rapid speed. Unlike other cryptocurrencies, some come doing better at the earlier stage but as time goes on they loss value and at the end of the day it gets crash .
my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you

Wait, what?

Almost every Cryptocurrency is a copycat of bitcoin that is why it is slow in growth and highly rely on the bitcoin when it comes to price increase and drops.

The coin or its usage doesn't give the value or price to it, only the demand and supply is giving it so no matter which coin it is once it started to get accumulated by people the price will grow.

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Its the POW that makes BTC very different from other cryptocurrencies. Basically, the POW algo is making its security harder and at the same time the max supply of BTC. Some are saying that there is no person to lobby for Bitcoin which makes BTC more decentralize than the others such as ETH and most of all its value is higher making it attractive for investors.

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Quote from: Darker45 on May 21, 2021, 09:39:14 PM

Other cryptocurrencies are not like Bitcoin because they're not Bitcoin. They're different. While Bitcoin is not owned by anybody and is fully open source, meaning anybody could copy it, recreate it, even improve it, the circumstances surrounding Bitcoin make all the difference.

Bitcoin has been copied a number of times already, but look where those copies are today. It seems to me it is all about the incredible level of trust that people have developed toward Bitcoin. Such trust does not solely come from Bitcoin's fundamental features; the circumstances around it truly helped.

Anybody could create another Bitcoin-like cryptocurrency, but it will never gain value more than, or even equal to, Bitcoin simply because of the circumstances.

The decentralization of bitcoin makes it has more value on the market. Decentralization help the network being healthy. Additionally, any upgrade for Bitcoin protocol need to be voted and locked in with high support from the community. It is very different than altcoins or clones of bitcoin, they are centralized and teams behind those projects can centralize protocol, change it in the way they want.

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Bitcoin came out as the first truly decentralized currency. It came out as a product of an unknown genius. In other words, it almost came out from nowhere, although, of course it has its precursors. These circumstances probably made Bitcoin more trustworthy.

Copy and use code of bitcoin is easy for coders but later they don't have idea and capacity to develop their clones. Failures of clones are come from incapable developmental ability of their developers.

Bitcoin has a genius found (Satoshi Nakamoto) and a outstanding core team of developers

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Other cryptocurrencies are not like Bitcoin because they're not Bitcoin. They're different. While Bitcoin is not owned by anybody and is fully open source, meaning anybody could copy it, recreate it, even improve it, the circumstances surrounding Bitcoin make all the difference.

Bitcoin came out as the first truly decentralized currency. It came out as a product of an unknown genius. In other words, it almost came out from nowhere, although, of course it has its precursors. These circumstances probably made Bitcoin more trustworthy.

Bitcoin has been copied a number of times already, but look where those copies are today. It seems to me it is all about the incredible level of trust that people have developed toward Bitcoin. Such trust does not solely come from Bitcoin's fundamental features; the circumstances around it truly helped.

Anybody could create another Bitcoin-like cryptocurrency, but it will never gain value more than, or even equal to, Bitcoin simply because of the circumstances. Another Bitcoin would simply be another Bitcoin, a Bitcoin copy, Bitcoin 2.0, and so on. An improved Bitcoin would just be another Bitcoin, an improved version, not the original.

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Quote from: Masplanc on May 21, 2021, 12:28:06 PM

my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you

Simple answer.

All cryptocurrencies are unstable or volatile and they are all vulnerable with news and regulations. Bitcoin does and altcoins do, they are the same.

Bitcoin is the strongest and the leader of cryptomarket. It has more immunity with news or regulations. In the same bear market or correction time, bitcoin has less fall than altcoins. Altcoins are pump and dump assets. When they are pumping, they can rise more than bitcoin but when the market is dumping, altcoins will fall deeper than bitcoin.

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Quote from: Masplanc on May 21, 2021, 12:28:06 PM

my question is that why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.
I'll be glad to get responds to add to my knowledge concerning this . Thank you

You mean why some didn't stays on the game? There are plenty of reason especially when they are hit during a market crash. Of course the budget or funds has been reduced, anything that has less or no working funds or circulation will eventually struggle to survive. (I'm referring to small caps whom been hit so hard).

You can't compared them to Bitcoin that is somehow stable or other major coins since the liquidity is high and not comparable.

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Quote from: Masplanc on May 21, 2021, 12:28:06 PM

why can't they last and be like Bitcoin and what does it take for this unstable cryptocurrencies to be like Bitcoin.

Bitcoin has qualities which makes it valuable and resistant over all these years despite the predictions that it will crash, no other cryptocurrency has the exact same qualities or level of decentralization which Bitcoin has.

But the difference does not mean altcoins can not last for long; If they serve a distinct purpose any currency would be able to retain its value overtime.

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